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Patterson-UTI (PTEN) has issued an announcement.
James M. Holcomb will remain as Executive Vice President and Chief Business Officer at Patterson-UTI Energy, Inc. until at least the end of 2026, with an option to continue until the end of 2027. Post-transition, he will serve as a non-executive advisor until September 2030, earning 55% of his current base salary without additional bonuses or incentive grants. Holcomb’s employment terms have been adjusted to reflect the company’s merger with NexTier Oilfield Solutions Inc., eliminating his right to terminate employment with ‘good reason’ due to changes in his role and waiving entitlement to severance or retiree benefits if he resigns before the end of his advisory period.
See more data about PTEN stock on TipRanks’ Stock Analysis page.
